
Former President Donald Trump blamed the Monday stock market dive on Vice President Kamala Harris in a series of Truth Social posts.
The market experienced a worldwide sell-off on Monday that hit American stocks as concerns over a possible U.S. recession take hold, Fox Business reported. Trump took to Truth Social to attribute the downturn to Harris being âeven worseâ than President Joe Biden, predicting an economic depression in 2024.
âOf course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole,â Trump posted. âNext move, THE GREAT DEPRESSION OF 2024! You canât play games with MARKETS. KAMALA CRASH!!!â
The Dow Jones Industrial Average plunged 1,000 points on Monday, according to Fox Business.
Trump separately posted that he will bring âPROSPERITYâ and peace if reelected, in contrast to Harris. Harrisâ campaign X account has yet to address the downturn, as of this writing.
Former Federal Reserve economist Claudia Sahm, who established the âSahm Rule,â which has accurately predicted past recessions, warned about the economyâs worrisome trajectory following a dismal jobs report on Friday.
The âSahm Ruleâ is a sign of the beginning of a recession and takes place when the three-month unemployment rate average jumps by 0.5% or more compared to the lowest three-month average from the past year, according to the Federal Reserve Bank of St. Louis. Sahm on âBloomberg Surveillanceâ responded âit triggeredâ when host Tom Keen asked if âthe Sahm rule is in force at this moment,â based on the jobs report data.
Billionaire investor Barry Sternlicht on Tuesday warned that Harrisâ policies are harmful to business and that she is more left-wing than Biden.
âI donât think itâs in her nature to go to the middle. Sheâs further left than Biden. And she has some policies that are obviously abhorrent to business,â Sternlicht said. âYou know, weâll see how that plays out ⌠And she needs to go to the center.â
(Featured Image Media Credit:Â Flickr/Gage Skidmore)
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